Question
You want to buy a car, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months),
You want to buy a car, and a local bank will lend you $25,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 4% with interest paid monthly.
-
What will be the monthly loan payment? Round your answer to the nearest cent.
$
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What will be the loan's EAR? Round your answer to two decimal places.
%
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Financial Management For Nurse Managers And Executives
Authors: Cheryl Jones, Steven A. Finkler, Christine T. Kovner
4th Edition
